That DP to whom you replied. "DP" = different poster -- I did not make the claim mentioned, nor did I provide the cited example. FWIW, I seem to agree with much of that with which another poster has responded in the interim, except the particular conclusion about Jawando and the minor Econ 101 ad hominem. |
Genuine question, is there causal (and not just associative) evidence that land speculation is increasing prices? And what role do really high incomes play in the market, since MANY people can afford the high prices. Additionally, it costs more to build these days, so builders have to recoup costs. And make a fair profit. I have no idea what type of profit they make, and perhaps they are gouging buyers for no reason other than they can. Or maybe it's the slow process to approve new housing developments -- the longer it takes, the more their financing costs them (and then us). Are there any studies on what new housing developments are providing in terms of profits for the homebuilders? I truly don't know because I don't follow this. |
There are plenty of academic papers on speculation’s role in driving up housing prices. For example: https://www.huduser.gov/portal/periodicals/cityscape/vol26num1/ch8.pdf. The biggest problem with Friedson’s PILOTs is that they’ve effectively provided insurance for land speculators. Making housing more affordable requires a market adjustment. If land prices stay high, the market won’t adjust because of the profit realities that you describe above. When tax policy bails out people who paid too much for land or who held onto land too long, the market won’t adjust. Gross margins for publicly traded residential real estate firms have been running 50 to 60 percent the past few years. Private firms’ margins probably are similar or perhaps even a bit higher. Otherwise, they’d be starved for capital. The biggest barrier to accelerating housing production is the developers themselves. They trickle units onto the market to create scarcity and keep prices high. For decades, the pipeline of approved projects has been more than deep enough to meet demand. During that time, effective rents have increased 2.1 percent a year on average. If the market had delivered more units, prices would be lower. |
| Well Jawando just got shredded by his fellow councilmembers for treating them like *^%# on the Unmask Ice bill. He called for it to be scheduled next week, leapfrogging a committee meeting on it, and drew the ire of almost all the councilmembers. A couple were crying they were so mad. Said he never once reached out to any of them to discuss the bill. |
Best Summary... all are bad choices. |
| Why would anyone want to get a low paying job in the government like this? Unless they see it as a stepping stone? Like Alsobrook who became a fed senator. |
Low relative to...? It's not small, and nothing like the pittance given to the BOE. There are considerable fringe benefits, and you get to install friends/cronies in all kinds of positions where, even if the pay is not astronomical, it's reasonably good, with fringe benefits of their own (both proper and, with incidence depending on the nature of the office holder, improper). |
The committee chair was dragging his feet on scheduling the work session. Three of his colleagues voted with him to advance the bill. Some people have principles, and some people are cowards who want to avoid difficult votes. |
No he wasn't. He wisely wanted to see what the Maryland General Assembly was doing on their REAL bill that has teeth. You know, actual enforcement mechanisms and penalties. And that bill would apply to all law enforcement. Not just MCPD, which is the only police department the county can regulate. The county can't regulate Rockville police or Takoma park police or Gaithersburg police. They certainly cannot regulate federal police. This bill will just result in a bunch of people calling 911 and the operators telling them there's nothing anyone can do about it |
DP Do you think they stand to lose support politically by voting for the bill and that's why they are delaying it? That doesn't make sense to me. The county has the legal authority to regulate its own police force. The state has more authority. It makes more sense to do this right. ICE has been terrorizing people for over a year. Passing a toothless bill now versus in a month makes no difference. |
| They are all aholes. Friedson and Glass will build more housing than Jawando. Jawando will be like Elrich - pushing performative and wasteful progressive priorities while supporting nimbyism |
Ugh! I will not vote for anyone endorsed and bought and paid for by the Sierra Club!!!! |
The county exec makes close to $210k, more than US representatives and senators. |
Oh no! Supporting the environment??? |
Which poster? The pro-Jawando one or the other pro-housing one? |